RBS 2004 Annual Report Download - page 41
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Annual Review and Summary Financial Statement 2004
Divisional review
39
RBS Insurance is the second
largest general insurer in the
United Kingdom. Its brands include
Direct Line, Churchill, Privilege,
Green Flag and NIG. As a result
of organic growth and the full year
impact of Churchill, which was
acquired in September 2003,
RBS Insurance increased its total
income by 52% to £4,934 million.
Across its range of brands and products,
RBS Insurance increased its total policies in-force
by 2 million to over 22 million. Within this total motor
policies increased by 5% to almost 10 million.
In the United Kingdom, RBS Insurance is
the No.1 motor insurer, with over 8 million policies,
and the No. 2 home insurer, with over 5 million
policies.
In Continental Europe, RBS Insurance
increased its motor insurance policies by 15%
to 1.6 million.
RBS Insurance now has almost 5 million
motor rescue policies sold through Direct Line,
Churchill and Privilege and through many partners
under their brands.
RBS Insurance increased its travel insurance
policies to 1.65 million to become the No.2 travel
insurer, and its pet insurance policies to almost
500,000.
The Direct Line red phone continues to have
the highest awareness of any general insurance
brand. Direct Line’s sponsorship of Channel 4’s
set of top rating property programmes has proved
extremely successful.
Churchill embarked on a new marketing
campaign in June, featuring the popular nodding
dog brand and his famous “Oh Yes!” catchphrase.
The campaign focused on the benefits of the
service and reinforced the potential savings that
could be made by switching to Churchill. The
campaign was a major success, delivering record
levels of brand awareness and sales.
The Privilege brand was re-launched in
August with a new TV campaign, featuring Joanna
Lumley. The marketing campaign is targeted at
customers with 4 or more years no claims discount.
In October, a new intermediary business
was created. The new company, RBS Insurance
Brokers, provides commercial insurance for small
business customers of Retail Banking.
NIG is the broker channel specialist within
RBS Insurance, offering personal and commercial
insurance through a large number of UK insurance
brokers.